Tuesday, October 26, 1982

New Braunfels Herald Zeitung

Location: New Braunfels, Texas

Page: 1

Other pages in this edition:

Who (or what) are you looking for?

Find old articles about anyone, in the World’s Largest Newspaper Archive!

Other Newspapers from New Braunfels, Texas

Loading...

Other Editions from Tuesday, October 26, 1982

Loading...

Text Content of Page 1 of New Braunfels Herald Zeitung on Tuesday, October 26, 1982

New Braunfels Herald-Zeitung (Newspaper) - October 26, 1982, New Braunfels, Texas Texas I tt 0 Wit oh Stock market continues torn ble NEW YORK AP Stock prices slumped again in opening trading extending the markets nosedive in the previous session that was the secondworse plunge in Wall Streets Losers jumped out to a 51 lead over gainers in the early tally of New YorkStock Exchangelisted The Dow Jones average of 30 in which tumbled points Monday to fall below lost another points after 30 minutes of trading today and stood at Before the measure had risen more than 250 points since late summer amid investors ex pectations that interest rates would keep Early NYSElisted losers today included Penney to Eastman Kodak Va to and General Electric to Declines led advances by a wide margin today on the whose composite index lost to Big Board volume totaled million against million in the previous At the American Stock the market value index was down at On traders reeling from the worst day on Wall Street since the crash of 1929 blamed uncertainty over interest rates for the But analysts called it just an overdue correction in a manic depressive The Dow Jones average of 30 in which had soared more than 250 points since plunged points Monday to It was the averages largest singleday drop since it fell points on The drop was an overdue correction in stock prices in a highly volatile said analyst Howard Abner of Abner Herrman Brock The selling was touched off by fears that the Federal Reserve Board had stopped letting interest rates analysts After in tense speculation that the Fed would cut the discount rate its loan rate to private financial institutions the agency left it untouched at That action was the 1 reason See Page M Youth leader to speak at PACT meeting Parents and Children Together PACT will host a public meeting at 7 Wednesday itthe New Braunfels High Sdaool Guest speakewwill be Bill founding of the National Federation of Parents for DrugFree and Bobbie president of the Com munity Families in Actiori of San Barton and his wife Pat founded one of the first parent groups in the United and have been featured on national television Mueller will speak on the how to success stories of San Antonio parent New Braunfels New Texas 209 Zeitung 14 Pages TUESDAY October 25 cents USPS 377880 Bonds approved Utilities eyes November bids The City Council gave New Braunfels Utilities its scarcely General Manager Bob flanked by a handful of Utilities left the council chamber smiling Monday Thank Well spend it very he All that remains now is to sell the approved new series of Utility System Revenue The council plans to open bids at a special meeting set for 2 With a AA bond rating against current market Floyd Westerman of Allison hopes the city can get an interest rate under If sold on the bonds will be dated and the funds should be available by Utilities really needs this money about February or Westerman But the company is pushing another A new federal law will require bonds purchased after to be means the Internal Revenue Service will have a claim on Westerman said it might take several months for interest rates to stabilize The million will finance major improvements to utility Water projects will account for The biggest ones planned are in pressure zone which takes in the area of California Loop 337 and the Eden Home and pressure zones 2 and east of IH Planned electric projects amount to Updated data needed to meet requirements of the Public Utility Regulatory Policy will cost An estimated will be spent on sewer including new service to Sleepy Hollow and is slated for data processing equipment and repairs to the general Scrutinizing the list of it looks very said coun cilmember Barbara She thought the council would do well to look at a similar longrange plan for improving DYANNEFRY Chunn appointed city attorney John Chunn By DYANNE FRY Staff writer t Outgoing City Attorney Irvin Boarnet went home Monday night with a a framed certificate and a council resolution recognizing his 10 years of John former City was appointed to take his The council held a halfhour executive session before the meeting for discussion of legal and personnel In open Mayor Pro Tern Gerald Schaefer nominated and another council member moved he be voted in by The vote was with all council members present except Max Im pleased that I have been as I have had an interest in municipal law for some said Chunn in a telephone interview Tuesday He has been City Prosecutor for five Before he and his partnerbrother Lonnie Chunn were in practice with the attorney for the City of I thifikfmunicipal law is a real interesting said the new city Its not only an opportunity to have a client that pays you its a form of community Regarding what the city will be paying no definite answer seemed to be Delashmutt didnt know as of and Schaefer said fees didnt come up in the I would assume hed be getting the standard salary that was Chunn said he had had no conversation with anybody relative to before taking this job or the one hes just I think its a look andsee The council decides what the city will and then if adjustments need to be made we can discuss he Boarnets effective as of the end of this was announced Two weeks it was made public that he resigned at the request of a majority of the But no harsh words were spoken Monday as Mayor Stratemann presented Boarnet with his The resolution outlined his city which began when he was appointed City Prosecutor in See Page 14 Commissioner Precinct 2 Benson lacking Alden Al Benson By JACQUELINE SMITH Staff writer Politics is a matter of One is moved to take a political position either through ambition for public office or because of a firm or both Al For fiftythreeyearold the Republican candidate for precinct 2 county it was Or so he when asked recently why he chose to run for Three of the four county com missioner seats are being contested in the November including Commissioner Precinct 2 presently served by Monroe the in cumbent for the past 12 But of the three hopeful candidates challenging the incumbent com missioners in precincts 3 and Benson has been the one to most strongly criticize the current ad a local real estate has charged the current Court with poor managing and fun ding of county He repeated these charges Monday afternoon as he sat in his office addressing what he views as the top issues at stake in the The three top problems facing the county are lack of lack of funding and lack of said who has lived in Comal County for 28 As examples he cited the pedestrian and parking problems on River Road a leak in the Cour thouse roof last spring and what he termed the jail house Youve got to plan where youll be in five he River Road has been with us for over a decade as has my opponent and the decision has not been At previous meet the candidates Benson criticized the courts handling of a leak which See Page 14 Wetz touts his record By JACQUELINE SMITH Staff writer Citing projects Commissioners Court is currently working Commissioner Monroe Wetz thinks charges being made by his Republican opponent are unfounded and nothing more than a political Wetzs Al has charged the current Commissioners Court with being poor managers and I do not feel that I am in competent or a poor was sixtyoneyearold Wetzs response to these Specifically naming the courts action on planning for county River Road and a new Wetz said these charges were To the charges of poor planners and poor I say that I am satisfied with the planning I have For the Democrat incumbent the bridge at Solms and the donations Ive gotten to help build As another Wetz also pointed out that a bill came in for to weight down a pipeline at the Schuetz Dam Comal County rejected the bid and I then supervised the project with the cooperation of the gas company and we only spent or he As for longterm Wetz mentioned the extension of FM 3009 to Highway Some eight years ago I per sonally requested that the company working on the extension should sleeve the area where the proposed FM 3009 would he The company granted my request and sleeved it at no cost to the If the work had to be done it would cost Comal County some See Page 14 Monroe Wetz Declining mortgage rates hold inflation to percent Inside WASHINGTON AP Sharp new declines in mortgage rates helped hold inflation in September to a scant calculated the government said It was the smallest ad vance in five Gasoline reflecting abundant supplies of fell although food prices were up the Labor Department said in its new report on the Consumer Price Mortgage interest rates fell As a consumer prices rose at an annual rate of percent for the first nine months of the If held to that pace for the rest of the advance would match the percent of Inflation was percent in 1981 and percent in The new figures are the last government price announcement before the 2 But inflation already tempered markedly from the doubledigit levels of previous years has not been a political millstone for Republican can the GOP has taken credit for the improved inflation results and pointed to the figures as a sign the administrations economic program is Private attribute the slowing in consumer price increases to the serious which has sent unemployment soaring to its highest level since In oil and grain supplies have been In todays the department said consumer prices rose a seasonally adjusted percent in after climbing percent in August and percent in Not since April had prices risen at such a slow If prices rose for 12 straight months at Sep tembers the yearly gain would be percent after seasonal The annual rate reported by the department is based on a more precise calculation of monthly changes than the figure the department makes The new report said that for the 12 months en ding in prices rose Todays Weather Comal County forecast calls for mostly fair and mild then partly cloudy and not as cool There will be some early morning cloudiness giving way to partly cloudy skies and warmer temperatures later in the Winds will be from the southeast at 1015 mph and near 10 mph Sunset will be at and sunrise Wednesday will be at Volleyball showdowns Smithson Valley is and both New Braunfels and Canyon have a shot at a postseason volleyball playoff berth The Unicorns need only a victory over Hays to clinch second in District 13 while the Cougarettes need a win over Kerrville Tivy a a Unicorn loss to tie for second and force a Page DEAR robbery keep police busy No arrests have been made in connection with an armed robbery at Revco Discount Drugs in the Walnut Shopping Center at An automatic weapon of unknown caliber possibly a black automatic handgun was used in the robbery by a white Approximately was At least two house burglaries were reported to New Braunfels police over the Bartle of said his weekend home at 974 Mulberry was burglarized sometime between 10 and 11 Missing were worth of a television set and oven valued at a in and in miscellaneous Fingerprints were lifted from the scene by detective Juan Deau Laird of 864 Live Oak reported a burglary at his residence between Friday and 1 A pry bar was used to gain entry into the Two stereo speakers valued at a 19inch color television a microwave and stereo turntable and receiver were reported Hannelore manager of the Comal Inn reported a burglary of the motels storeroom Although there was no sign of forced in Avon gift and in assorted jewelry were missing from the Noel Tredt of 766 Rosemary told police a diamond ring and six gold bracelets valued at were taken from his residence between 16 and